Reported 30 days ago
Ancestry.com has stated that an acquisition of its competitor, 23andMe, would likely face significant antitrust issues due to their rankings in the consumer genetic testing market. Ancestry’s Chief Legal Officer noted that while they are open to opportunities, a merger with the second-largest player, 23andMe, is complex from a regulatory standpoint. 23andMe has struggled financially since going public in 2021, leading its CEO to reject takeover offers and consider taking the company private.
Source: YAHOO